As remote work has become common for many office workers since the pandemic, many restaurants in many downtown areas have seen low foot traffic. So, Jimmy Johns comes up with a $1 sub on the last Monday of the month at its downtown location. Suppose you go there in your lunchtime from another part of the city to get this deal and find out that there is a huge line, and you have to wait for an hour to get $1 sub.

a. Why would Jimmy Johns offer this deal? This deal must be based on which key economic idea/principle?

b. What will be your opportunity cost in this situation?

c. So, what would you do? Why?

d. Which key economic idea/principle would help you make this decision?

 

Answer rating: 100% (QA)

a Jimmy Johns offers the 1 sub deal to attract customers and increase foot traffic to its downtown l... View the full answer